DMCI Mining eyes growth from new Palawan mine

DMCI MINING CORP. expects its newly opened Long Point mine in Palawan to drive production growth this year as one of its Zambales operations nears depletion.

Speaking at the annual stockholders’ meeting of parent company DMCI Holdings, Inc., DMCI Mining President Tulsi Das C. Reyes said commercial operations at the Long Point mine began in March, increasing the company’s active mines to three.

He added that the new mine has raised the company’s total operating capacity to about 3 million wet metric tons (WMT).

“We expect 2026 to be a milestone year, as we ramp up the Long Point mine and sustain production while managing the transition from ZDMC, which is expected to reach depletion later this year,” Mr. Reyes said.

DMCI Mining reported P4.1 billion in revenues and P882 million in net income in 2025. Nickel ore production rose to a record 2 million WMT, supported by full-year Zambales operations and initial output from the Long Point mine.

The company said shipments increased to 1.9 million WMT last year, while average selling prices improved to $36 per WMT amid stronger regional demand.

Meanwhile, DMCI Holdings, Inc. said its diversified portfolio helped cushion the impact of mixed market conditions in 2025, although the company expects uneven business conditions to persist amid rising fuel costs and global uncertainty.

“Looking ahead, conditions will likely remain uneven, particularly with recent developments in the Middle East affecting fuel costs and the broader economy… We remain confident in the Group’s ability to navigate the periods ahead as we build on our position,” DMCI Holdings Chairman Isidro A. Consunji said during the company’s annual stockholders’ meeting.

The company said construction demand in the Philippines is expected to remain steady in the coming years, supported by ongoing infrastructure development and housing needs.

“As long as the country continues to grow, the need for infrastructure and real estate will remain. The bigger question is not whether demand exists, but how fast projects will be rolled out,” D.M. Consunji President and Chief Executive Officer Jorge A. Consunji said.

“That will depend on funding, policy direction, and the ability to attract both local and foreign capital, especially in a volatile global environment we have today,” he added.

Mr. Consunji said the construction industry requires a balance of public sector investment, private sector participation, and foreign funding to support sustainable growth.

“That kind of mix creates a healthier, more sustainable growth path for the construction industry,” he added.

In the real estate segment, DMCI Homes said buyer behavior has shifted in recent months, with more end-users purchasing units than investors following delays in buying decisions during the pandemic.

“Buyers during the last few years have hesitated to make a decision to buy, but the need for housing is real and that is why those who have postponed buying cannot continue to postpone buying anymore,” DMCI Homes President Alfredo R. Austria said.

“Now we see that in recent months, we have more ready-for-occupancy (RFO) sales as compared to non-RFO sales,” he added.

DMCI Homes also announced the establishment of a new subsidiary, DMCI Hospitality and Leisure, Inc. (DHLI), which will operate its leisure and hospitality developments, beginning with an upcoming beach resort project in Batangas.

Operating under the DMCI Resorts brand, DHLI will manage the hotel and resort components of projects under the DMCI Homes Leisure Residences portfolio.

Its first project, Solmera Beach Park Resort, is scheduled to open in early 2027 within the 7.5-hectare Solmera Coast estate in San Juan, Batangas.

The company said its group-wide outlook remains stable, supported by healthy cash flows and low debt levels. It added that its off-grid energy and nickel mining segments are positioned for growth.

DMCI said construction and real estate operations could face near-term cost pressures and may be affected by higher interest rates, although the company expressed confidence in its real estate business.

In its cement business, the company said it has seen operational improvements and is targeting cash breakeven this year amid continued competition.

The company also said it is preparing for the Coal Operating Contract bid process in Semirara, where it expects to continue operations.

On Tuesday, shares in DMCI Holdings rose 0.31% or 3 centavos to close at P9.65 apiece. — Vonn Andrei E. Villamiel and Alexandria Grace C. Magno